Atmus Filtration Technologies (NYSE:ATMU) Sees Strong Trading Volume on Analyst Upgrade

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares saw an uptick in trading volume on Wednesday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $60.00 price target on the stock, up from their previous price target of $53.00. 1,906,306 shares were traded during trading, an increase of 148% from the previous session’s volume of 769,203 shares.The stock last traded at $51.2610 and had previously closed at $48.03.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research report on Wednesday, October 8th. Robert W. Baird increased their price objective on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Finally, Wells Fargo & Company increased their price target on Atmus Filtration Technologies from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Institutional Trading of Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATMU. Channing Capital Management LLC boosted its position in Atmus Filtration Technologies by 3,192.8% during the third quarter. Channing Capital Management LLC now owns 1,715,015 shares of the company’s stock worth $77,330,000 after purchasing an additional 1,662,931 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Atmus Filtration Technologies in the first quarter valued at approximately $48,966,000. Eminence Capital LP raised its stake in shares of Atmus Filtration Technologies by 25.4% during the 1st quarter. Eminence Capital LP now owns 5,757,054 shares of the company’s stock worth $211,457,000 after buying an additional 1,164,440 shares during the period. Invesco Ltd. lifted its position in shares of Atmus Filtration Technologies by 84.8% during the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company’s stock valued at $79,258,000 after buying an additional 990,468 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Atmus Filtration Technologies by 49.1% during the 3rd quarter. First Trust Advisors LP now owns 1,527,957 shares of the company’s stock valued at $68,896,000 after buying an additional 503,383 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Up 6.5%

The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 3.18 and a beta of 1.62. The business’s 50 day moving average is $45.85 and its 200-day moving average is $41.71. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.41 and a current ratio of 2.14.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. Atmus Filtration Technologies had a net margin of 11.57% and a return on equity of 76.84%. The business had revenue of $447.70 million for the quarter, compared to the consensus estimate of $415.02 million. During the same period last year, the firm posted $0.61 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. On average, sell-side analysts predict that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, November 25th. Atmus Filtration Technologies’s payout ratio is presently 9.17%.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.